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FOX News
Dec 3, 2012 10:00pm PST
problem with us becoming greece is not revenue, it is not the tax code, it's entitlements. 10,000 baby boomers retire a day. social security and medicare are about $50 trillion under funded combined. we need to adjust the age for retirement, slowly but surely for people under 55 because we are living longer. you and i need to pay more because we can fore it. that's the entitlement reform we need to avoid becoming greece. >> there are two things you can do. you can do nothing. three things. you can do nothing. you can imagine it. or you can solve it. managing is limping along, lots of risks and recognizing that more baby boomers are coming along. management is going to get much more of a cataclysmic situation. >> that's a good point. the longer you wait to solve tthe harder it is. if we do nothing, social security runs out of money in 2033. medicare goes broke in 2024. and to fix tyou would have to increase taxes by one-third, for the entire population or cut benefits by 28%. if do you it now, you could save the benefit stream for those who need it the most, ask people likeny pay more a
Search Results 0 to 1 of about 2 (some duplicates have been removed)